May 17th, 2023
JD Sports entered into exclusive negotiations with the owners of Groupe Courir with regards to the potential future acquisition of 100% of the issued share capital of Courir for an enterprise value of €520 million
Based in France, Courir is a leading player in the European sports footwear and apparel sector with 313 Courir branded stores across six countries in Europe. In addition, there are a further 36 stores which trade under franchise agreements as Courir in North West Africa, Middle East and French overseas territories. Further, there are two stores which trade as Naked in Denmark which is a high-end female sneaker business. For its Fiscal Year ending on 31 December 2022, Courir had consolidated revenues of €609.8 million and profit before interest and tax of €47.4 million. The Transaction will need to be notified to the European Commission in accordance with European Union Law. Completion of the acquisition is therefore conditional on receipt of merger control approval.